Bulls in a China shop

Article Abstract:

Foreign fund managers and investors are rushing to cash in on foreigners-only stock issued by China's fledgling securities markets. By Apr 1992, the stock exchanges of Shenzhen and Shanghai plan to float $140 million worth of country funds. Money raised from the funds are to be invested in China 'B' shares. However, Hong Kong regulators have warned potential investors that the Chinese securities markets are immature and lack laws or regulations to protect investors.

Security brokers and dealers, China, Securities industry

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That sinking feeling: India's first overseas equity issue collapses

Article Abstract:

India's first Euromarket equity issue collapsed due to lead underwriter Morgan Stanley's decision to increase the size of the issue in late May 1992 despite the country's stock and bond scandal. As a result, the issue price of Reliance Industries' global depositary receipts fell by 40% to $10.50 from its flotation price of $16.35. The collapse of the Reliance issue casts doubts on three other proposed issues.

India, Petroleum chemicals industry, Petrochemicals industry, Reliance Industries Ltd.

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Stocking up

Article Abstract:

Japan's Ministry of Finance is busy boosting the stockmarket before the FY 1992-1993 ends. The boosting strategy involves the increasing of the volume and speed of gain of public money invested in the money market and the anticipation of the 1993-94 budget. Economic analysts say the strategy is working which, infact, raised the Nikkei stock average to more than 6% on Mar 8-9, 1993 alone.

Economic aspects, Economic policy, Japan. Ministry of Finance

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